San Diego real estate blog

Jumbo Financing is any financing that goes ABOVE what the "agencies" will buy or insure. This basically includes any loan larger than the FNMA and FHA loan limits. There are currently very few players in this market. These players include GMAC, Chase, BofA, Wells, Citi, and a few others with less commonly known names. The issue is that these players can no longer "securitize" and sell these mortgage loans, so the loans use up their cash. In spite of being able to charge higher rates and diligent scrutinizing of the underwriting, the investors are also trying to conserve their cash positions; liquidity is king for banks right now. These investors have (nearly) all made guideline changes just in the last few week,s indicating that their appetite for the loans is slowing. *To read the full post, please visit the San Diego real estate blog - To subscribe to my free RSS blog feed, please use San Diego real estate blog RSS subscriprion

Traditionally, real estate homeownership provided unequaled tax benefits. Now, it seems these tax benefits are about to be lessened somewhat. A portion of the recently passed housing bill is raising some eyebrows and takes effect January 1. Prior to the bill's passage, homeowners could enjoy tax-free capital gains of up to $250,000 for a single person and up to $500,000 for a married couple if they used the home as their principal residence for at least two of the previous five years. *To read the full post, please visit the San Diego real estate blog - To subscribe to my free RSS blog feed, please use San Diego real estate blog RSS subscriprion

The local San Diego 'experts' who are trying to jump on every tidbit of positive real estate news as proof positive that our San Diego real estate market is finally turning, may just have to re-think their recent touting of slowing subprime delinquencies.

Clayton Fixed Income Services, Inc released a report showing the percentage of subprime borrowers 60 or more days in arrears at the end of July surged for both the 2006 and 2007 vintages, up nearly 7% and 11% compared to June, respectively. *To read the full post, please visit the San Diego real estate blog - To subscribe to my free RSS blog feed, please use San Diego real estate blog RSS subscriprion

Moody’s Investor Services released a report showing that their Property Price Indices (CPPI) fell for the fourth straight month in June.The CPPI is down 3.3% from May, 9.6% below June 2007 and 1.8% below its peak in October 2007. *To read the full post, please visit the San Diego real estate blog - To subscribe to my free RSS blog feed, please use San Diego real estate blog RSS subscriprion

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